Deck 3: Social-Responsiblity-

Question 1

Milton Friedman emphasizes the philanthropic side of social responsibility.

Answer 1

False

Question 2

Over the past several years,the term social entrepreneur has emerged as a way to describe the use of business skills to marshal resources.

Answer 2

True

Question 3

The mission statement is the foundation on which all other goals and strategies of a business are based.

Answer 3

True

Question 4

Utilitarianism is rule-based or duty-based.

Question 5

Social responsibility refers to the rules of moral values that guide decision-making.

Question 6

According to the Reality Check box titled "Green Can Be Gold," efforts of businesses to act in a socially responsible manner toward the environment are known as environmental marketing.

Question 7

The long-term planning tools used for viewing a business and its environment in the broadest of terms are known as the operational plan.

Question 8

Historically,the primary role of business has been economic.

Question 9

A hostile work environment in which work is unreasonably difficult is defined as a type of sexual harassment by the EEOC.

Question 10

Social responsibility is the obligation of a business to maximize the positive impact it has on society and to minimize the negative impact.

Question 11

Laws geared toward consumer protection became popular when Ralph Nader started the consumer protection movement in the early 1960s.

Question 12

Strategic planning is the process of identifying the mission,goals,and objectives of a business.

Question 13

Changes in ethical standards and values usually precede changes in laws.

Question 14

Virtue ethics deals with the consequences of one's own actions.

Question 15

The philanthropic goodwill level on the social responsibility pyramid is concerned with a company's obligation to be ethical and to do what is right,just,and fair.

Question 16

A code of ethics is a formal statement of the long-range goals and plans for a company.

Question 17

Philanthropy is the bottom level of the social responsibility pyramid.

Question 18

When it comes to a code of ethics,companies should take a "three Ps" approach: Print it,post it,pray they read it.

Question 19

A code of ethics that is supported and enforced by management will become a part of a company's culture.

Question 20

The last step in the strategic planning process involves the establishment of control systems.

Question 21

When looking for a competitive advantage,one of the best tools for survival is looking at the mistakes of other businesses.

Question 22

An effective mission statement balances ideas and reality.

Question 23

A competitive advantage must be sustainable over time in order to be a benefit to the business.

Question 24

Competitive advantage must be defined from the customer's perspective.

Question 25

Goal setting is NOT the first step in the Strategic Planning Process

Question 26

If a small business cannot sustain a competitive advantage,the best recommendation is to view the business as a short-term investment rather than a long-term enterprise.

Question 27

An analysis of the external environment identifies opportunities and threats faced by a business.

Question 28

There is little connection between strategic planning and social responsibility.

Question 29

A competitive advantage is relative,not absolute.

Question 30

The heart of the strategic planning process is the mission statement.

Question 31

A competitive advantage need not be sustainable in order to remain an advantage.

Question 32

Competitive advantage as a core of small business strategy is critical,but the inertia of the marketplace may also be relied on for survival.

Question 33

A small business may be significantly more affected by an environmental change than a larger business would be.

Question 34

A company's competitive advantage could be defined as being the two things that the company does best that set it apart from the competition.

Question 35

External analysis assesses the strengths and weaknesses of a company.

Question 36

A competitive advantage is the advantage that a business has over its competitors.

Question 37

The three generic competitive strategies by which a business can gain competitive advantage are lowering costs,differentiation,and focus strategies.

Question 38

Having a competitive advantage is critical.Businesses must do something better than the competition.

Question 39

The step of strategic planning in which the manager identifies pollution caused by the firm is known as environmental analysis.

Question 40

A competitive advantage will cause customers to be more satisfied with one business,resulting in increased market share for that business.

Question 41

Strategic planning is providing the ____ game plan for a business.

A) Near-term
B) Long-term
C) Short-term
D) Intermediate-term

Question 42

Wilma has been described by others as a good corporate citizen.She contributes to the community by volunteering through her church and she strives to improve the quality of life in everyone she meets.Wilma possesses qualities within which level of the social responsibility pyramid?

A) Philanthropic goodwill
B) Ethical responsibility
C) Legal obligations
D) Economic responsibility

Question 43

The view that a business must make a profit in order to survive and make other contributions is known as

A) Economic responsibility
B) Legal responsibility
C) Ethical responsibility
D) Philanthropic responsibility

Question 44

Planning for the future is an exact science.

Question 45

Differentiation means that a product or service is different than the product or service of the competition.

Question 46

Which concept refers to the fact that a business has the obligation to impact society on four levels⎯economic,legal,ethical,and philanthropic?

A) Business responsibility
B) Moral obligation
C) Social responsibility
D) Ethical responsibility

Question 47

The Sherman Antitrust Act was established to provide what type of protection within the legal environment?

A) Consumer protection
B) Trade protection
C) Environmental protection
D) Employee protection

Question 48

Focus strategies target a broad segment of the market.

Question 49

A single method to continuously differentiate a product will sustain a competitive advantage.

Question 50

____ is a set of shared beliefs within an organization.

A) Ethics
B) Social responsibility
C) Strategic planning
D) Culture

Question 51

Art has always played by the rules and obeyed the law.He believes that law is society's codification of right and wrong.Art possesses qualities within which level of the social responsibility pyramid?

A) Philanthropic goodwill
B) Ethical responsibility
C) Legal obligations
D) Economic responsibility

Question 52

The obligation of business to maximize the positive impact it has on society while minimizing the negative impact is called

A) Moral obligation
B) Business responsibility
C) Business ethics
D) Social responsibility

Question 53

The most difficult part of strategic planning is drafting a list of alternatives.

Question 54

The obligations of a business to maximize the positive effects it has on society and minimize the negative effects is referred to as

A) Ethics
B) Social responsibility
C) Strategic planning
D) Sustainability

Question 55

Small businesses concentrate on niches or narrow market segments.

Question 56

Business plans and strategic plans support each other but accomplish different purposes.

Question 57

The Civil Rights Act of 1964 was established to provide what type of protection within the legal environment?

A) Consumer protection
B) Trade protection
C) Environmental protection
D) Employee protection

Question 58

The level of social responsibility that has historically been the focus of business is

A) Legal
B) Economic
C) Ethical
D) Philanthropic

Question 59

Economist Milton Friedman emphasized the fact that business had "one and only one social responsibility," that being

A) Economic responsibility
B) Legal responsibility
C) Ethical responsibility
D) Philanthropic responsibility

Question 60

Which level of social responsibility centers on making sure creditors are paid,a strong competitive advantage is maintained,and operations are efficient?

A) Economic responsibility
B) Legal responsibility
C) Ethical responsibility
D) Philanthropic responsibility

Question 61

Business ethics involves

A) Moral judgments on what should and should not be done
B) Conscious decisions about the direction the business is to take
C) Links morality,responsibility,and decision making within the organization
D) All of the above

Question 62

A small business sponsoring a Little League team for the summer would be an example of which level of social responsibility?

A) Economic
B) Legal obligations
C) Ethical
D) Philanthropic goodwill

Question 63

Dealing with the consequences of one's own actions is referred to as

A) Idealism
B) Utilitarianism
C) Deontology
D) Virtue ethics

Question 64

In order to ensure a small business is free of sexual harassment,all but which of the following should be done?

A) Have a clearly written policy prohibiting sexual harassment
B) Hold mandatory training programs on policies and prevention
C) Implement a program to be used if complaints are received
D) Ignore complaints until the manager is certain a real problem exists

Question 65

In the National Business Ethics Survey,____ percent of U.S.small business respondents considered their top managers ethical.

A) 80
B) 58
C) 49
D) 41

Question 66

The minimum threshold of socially expected business behavior is which two levels of social responsibility?

A) Economic and philanthropic
B) Economic and legal
C) Ethical and legal
D) Ethical and philanthropic

Question 67

The level of responsibility that leads to obedience of the law is what level of social responsibility?

A) Economic responsibility
B) Legal obligation
C) Ethical responsibility
D) Philanthropic goodwill

Question 68

Which level of social responsibility is concerned with a business doing well without the expectation of anything in return?

A) Economic responsibility
B) Legal obligations
C) Ethical responsibility
D) Philanthropic goodwill

Question 69

Consumer protection involves which of the following?

A) Setting safety standards and regulations for food and drugs
B) Enforcing laws that prevent monopolies
C) Setting minimum standards for air,water,and noise
D) Enforcing laws preventing discrimination

Question 70

The company New Leaf develops and sells eco-friendly paper in an industry that is notorious for both severe environmental impact and resistance to change.This company can be viewed as

A) Socially responsible
B) Economically responsible
C) Legally responsible
D) Fiscally responsible

Question 71

Which of the following does not apply to an ethical code that is written for a small business?

A) It should be written concisely and clearly.
B) It should apply equally to all employees.
C) It should be a reflection of the small business owner's ideals and beliefs.
D) It should not be included in an employee handbook.

Question 72

A tool with which the owner of a business communicates ethical expectations to everyone associated with the business is called a

A) Code of conduct
B) Tool of ethics
C) Code of ethics
D) Tool of conduct

Question 73

How often should your firm's ethics code be reviewed?

A) Annually
B) Once it is established,it should never be changed.
C) Every day
D) Whenever the firm is covered unfavorably in the media

Question 74

Philanthropic goodwill would be concerned with which of the following?

A) Reasonable profit
B) Meeting the legal requirements of all laws dealing with discrimination
C) Meeting obligations to society
D) Improving quality of life and promoting goodwill

Question 75

The EPA was created to enforce laws regarding which regulations pertaining to business?

A) Consumer protection laws
B) Laws to protect competition
C) Laws to protect the environment
D) Laws to prevent discrimination

Question 76

Philanthropic activity is best suited to

A) Small companies
B) Medium-sized companies
C) Large corporations
D) Any sized company

Question 77

The rules of moral values that guide decision making,or one's understanding of right or wrong,are referred to as

A) Cultural values
B) Business ethics
C) Mission and vision
D) Social norms

Question 78

A long-term planning tool used for viewing a business and the environments in which it operates in the broadest terms is

A) Strategic planning
B) Intermediate planning
C) Short-term planning
D) Strategic alternatives

Question 79

As a business manager,Sally focuses on employing only those individuals who have a strong character of honesty and integrity.This aligns most closely with which ethical perspective?

A) Idealism
B) Utilitarianism
C) Deontology
D) Virtue ethics

Question 80

The obligation of individuals and businesses to do what is right is known as

A) Economic responsibility
B) Legal responsibility
C) Ethical responsibility
D) Philanthropic responsibility